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Warning of past "false dawns" in the economic recovery, Federal Reserve Chairwoman Janet L. Yellen said Tuesday that central bank policymakers need to be cautious about raising rock-bottom interest rates. Recent data indicate the economy has rebounded from a sharp slowdown in the first three months of the year, Yellen told senators. But the recovery “is not yet complete,” she warned. “We have in the past seen false dawns … and later events have proven those hopes to be unfortunately over-optimistic,” Yellen said at a Senate Banking Committee hearing. “We need to be careful to make sure the economy is on a solid trajectory before we...

WASHINGTON -- Congressional efforts to shut down bailed-out Fannie Mae and Freddie Mac took a significant step forward Tuesday as key senators announced bipartisan agreement on a plan to overhaul the housing finance system.
The proposal, which will be...

WASHINGTON — Congressional efforts to shut down bailed-out Fannie Mae and Freddie Mac took a significant step forward with bipartisan agreement from key senators on a plan to overhaul the housing finance system.
The proposal released Tuesday would slowly...

WASHINGTON -- President Obama on Wednesday announced the nomination of Janet L. Yellen to be the first woman head of the Federal Reserve, calling her "one of the nation's foremost economists and policymakers" who would be a champion for American...

WASHINGTON — Health and Human Services Secretary Kathleen Sebelius said Wednesday that she had considered shutting down the problematic Obamacare website, but has no intention of delaying implementation of the nation’s new healthcare law.
“Delaying the...